All Forum Posts by: Steve S.

@ryan 

@Ryan Vienneau Shockingly, I am actually in Ballston Lake for family matters currently. How is the house hunting up here? Finding any deals?

Most lenders just don't find it to be worthwhile unfortunately. I know many of the investors I work with do not. It is frustrating I agree. 

@John Curtin There are many options to just a HELOC and it also depends on what your next move is. Getting a HELOC and having a place to live is smart but you more than likely will need additional financing for future flips. with the HELOC you will be able to get enough for downpayment and some rehab work, but you will need more for the acquisition. Plus there are options out there where you can leverage the new asset more based on the projected ARV etc...

As long as the deal pencils out you will have options. Getting the HELOC is always a good move. It doesn't cost much to get in fees and you only pay on what you use. Get it and use if need be.

hope that helps. Best of luck to you.

PM me or contact me directly via email or phone using the contact information in my signature. I look forward to helping anyone out there.

Interested as well .. let me know when it all comes together.

I get true off market deals all the time and I am just wondering where everyone is? I have posted a couple of deals on here and all I hear are crickets. is anyone interested in buying and selling flips in Los Angeles anymore? 

Just curious because I have properties that come my way a few times a week. In such a competitive market I would think people would be beating down my door. Let me know.

Off market properties in ... CA, LA, california, southern california, Los Angeles, Orange County, the valley etc... 

@Joshua McGinnis I have had this type of inquiry many times as a broker in LA. Various agents / brokers I know contact me saying they have these wealthy Chinese investors etc... I provide awesome off market opportunities and it doesn't even come close to a transaction. It seems to be all smoke and mirrors. How verifiable are these guys?

@Susan Iwertz The economic collapse of 2008 was due to a lot of bad bad things that went on and created the perfect storm. One of the biggest ones was Mark to Market accounting. That means that something is only worth what someone will pay for it. 

In commodities and many tangible things that is true, but when you're talking about 1 trillion dollar mortgage portfolios that are performing at a 5%+ return per year there is an inherent value even with a 8% - 10% foreclosure rate. The point is, no one in 2008-2010 would buy these portfolios anymore so by Mark to Market accounting these 1 trillion dollar portfolio derivative securities were worth nothing or pennies on the dollar even though they were still generating a massive return regardless of how many foreclosures were going on.

This plus so many practices are not happening anymore so even though the rates might go up, money might dry up, and the real estate market might take a downturn or level off, there will not be the cataclysmic fall out that you saw in 2008. 

Speak to us professionals, let the plumbers and the receptionists do their jobs, and we'll continue to do ours.

best of luck out there

Get hold of me at [email protected]

I can get financing on this deal if you need it as well. Let me know and we can make this deal work.

-Steve

I have very aggressive programs for Fix & Flip / Rehab Investors. We do truly have an excellent 100% Fix and Flip program and several other outstanding rehab financing options. Please look below and contact us.

Program #1: 100% Private Money SOCAL

- Up to 100% of Purchase Price
- Up to 100% of Rehab

- Up to 100% of Closing Costs

- Up to 100% of LTV
- Up to 80% ARV (case by case basis as long as it makes sense)
-2-3.5 points
-6-12 month term (longer available if needed)
-No PPP

Available in the following states: CA (LA and Orange Counties only)

Program #2: 90% Private Money + 100% REHAB
-Up to 90% of Purchase Price
-100% of Rehab
-Up to 80% of LTV
-Rates start at 7% I/O
-2-3 points
-12 month term
-No PPP
Available in the following states: AZ, CA, CO, FL, GA, IL, MI, MO, NC, NV, NY, OH, OR, SC, TN, TX,VA, WA, and WV

Program #3: 85% Private Money + Rehab + Closing Costs
-Up to 85% of Purchase Price
-100% of Rehab
-Up to 90% of closing costs financed
-10-11% I/O
-3-4 Points
-12 month term
-No PPP
Nationwide except for the following states: AK, AL, AR, AZ, HI, IA, ID, KS, KY, LA, ME, MI, MN,MS, MO, MT, ND, NE, NV, OR, RI, SC, SD, TN, UT, VT, WI, WV & WY.

Program #4: 100% Private Money - Other States

- Up to 100% of Purchase Price

- Up to 100% of Rehab 

- Up to 100% of Closing Costs 

- Up to 100% of LTV

- Up to 70% ARV

-6-9 month term 

Available in the following states: CO, MN, DC (Wash.)

Email me at [email protected] or call me at 310-948-8585.

Let's talk about any scenario you may have. This is what I do and I solve problems and provide very economical solutions. Best of luck out there.